Cambridge Investment Research Advisors Inc. Raises Position in AllianceBernstein Holding L.P. (AB)

Cambridge Investment Research Advisors Inc. boosted its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 25.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,293 shares of the asset manager’s stock after acquiring an additional 4,086 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AllianceBernstein Holding L.P. were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AB. Morgan Stanley grew its stake in AllianceBernstein Holding L.P. by 166.0% in the 1st quarter. Morgan Stanley now owns 1,258,872 shares of the asset manager’s stock valued at $28,765,000 after acquiring an additional 785,538 shares during the last quarter. Bank of Montreal Can grew its stake in AllianceBernstein Holding L.P. by 9,523.4% in the 2nd quarter. Bank of Montreal Can now owns 444,600 shares of the asset manager’s stock valued at $10,514,000 after acquiring an additional 439,980 shares during the last quarter. Foundry Partners LLC acquired a new stake in AllianceBernstein Holding L.P. in the 2nd quarter valued at about $6,970,000. UBS Group AG grew its stake in AllianceBernstein Holding L.P. by 107.5% in the 1st quarter. UBS Group AG now owns 408,841 shares of the asset manager’s stock valued at $9,342,000 after acquiring an additional 211,845 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in AllianceBernstein Holding L.P. by 753.4% in the 1st quarter. Renaissance Technologies LLC now owns 219,325 shares of the asset manager’s stock valued at $5,012,000 after acquiring an additional 193,625 shares during the last quarter. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

In other AllianceBernstein Holding L.P. news, insider Axa America Holdings, Inc. bought 1,071,180 shares of the stock in a transaction on Friday, September 1st. The shares were bought at an average price of $22.90 per share, with a total value of $24,530,022.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James A. Gingrich sold 21,000 shares of AllianceBernstein Holding L.P. stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $23.08, for a total value of $484,680.00. Following the transaction, the chief operating officer now directly owns 367,081 shares in the company, valued at approximately $8,472,229.48. The disclosure for this sale can be found here. Insiders sold a total of 608,705 shares of company stock worth $14,521,456 in the last three months. 2.70% of the stock is currently owned by company insiders.

A number of research analysts have issued reports on AB shares. Zacks Investment Research lowered shares of AllianceBernstein Holding L.P. from a “buy” rating to a “hold” rating in a report on Monday. Credit Suisse Group restated a “neutral” rating on shares of AllianceBernstein Holding L.P. in a report on Friday, August 11th. Finally, BidaskClub upgraded shares of AllianceBernstein Holding L.P. from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $26.25.

AllianceBernstein Holding L.P. (NYSE AB) opened at 23.60 on Tuesday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.84 and a beta of 1.52. AllianceBernstein Holding L.P. has a one year low of $20.40 and a one year high of $26.15. The stock’s 50 day moving average is $23.93 and its 200 day moving average is $23.02.

AllianceBernstein Holding L.P. (NYSE:AB) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The firm had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $771.88 million. AllianceBernstein Holding L.P. had a return on equity of 13.28% and a net margin of 6.74%. AllianceBernstein Holding L.P.’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. On average, equities analysts forecast that AllianceBernstein Holding L.P. will post $2.07 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Monday, August 7th were paid a $0.49 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.96 dividend on an annualized basis and a yield of 8.31%. This is a boost from AllianceBernstein Holding L.P.’s previous quarterly dividend of $0.46. AllianceBernstein Holding L.P.’s dividend payout ratio (DPR) is currently 89.91%.

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AllianceBernstein Holding L.P. Profile

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

Institutional Ownership by Quarter for AllianceBernstein Holding L.P. (NYSE:AB)

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